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Credit Suisse joins Singapore Exchange to Clear OTC Financial Derivatives
December 1, 2010--Singapore Exchange (SGX) today welcomes Credit Suisse AG to its SGX AsiaClear service as SGX Bank Clearing Member for the clearing of over-the-counter (OTC) traded financial derivatives.
Mr Muthukrishnan Ramaswami, President of Singapore Exchange, said, “We welcome Credit Suisse to SGX. With the addition of Credit Suisse, we now have a total of 10 bank clearing members that are active in the OTC traded financial derivatives. Following our launch on 15 November, we are seeing more global and regional banks coming forth with interest to participate in our clearing service. Banks see benefits in using SGX’s central counterparty clearing services to reduce counterparty risk and facilitate their business growth.”
SSE 380 Index Opens At 4,500 Points On 1st Trading Day
December 1, 2010--The average P/E ratio of SSE 380 Index was 35.8, higher than 17.5 of the overall average P/E ratio of the companies listed on the Shanghai Stock Exchange (SSE) and close to 37 of that of the Shenzhen Stock Exchange (SZSE), SSE Vice President Zhou Qinye said at the launch ceremony of SSE 380 Index yesterday. Quite a few fund companies have expressed their desire to develop products based on SSE 380 Index, while the SSE is also looking forward to the early introduction of relevant products.
Zhou said that today's investment is mainly indexation investment, which requires the provision of a series of indices for the multi-layer market to depict the market features and satisfy the investors' needs of observing the market in multiple levels and angles. A few years ago, the SSE introduced the SSE 50 Index and SSE 180 Index. Now, the number of companies, market capitalization and turnover of the SSE 180 Index account for 20%, 73% and 55% of that of all 890 SSE-listed companies, respectively. The SSE 180 Index enables investors to learn the features of big-cap blue chips listed on the SSE. As most SSE 180 Index constituent companies develop from small and medium sized enterprises, it is necessary to develop an index to describe the overall performance of medium sized enterprises with good growth prospect, strong profitability and distinct industry representativeness. SSE 380 Index is just the result of that effort. It is expected that the newly launched index would join with SSE 50 Index and SSE 180 Index in depicting the characters of the multi-layer blue-chip SSE market made up of big-cap blue chips.
India rates pressure after surge in economy
November 30, 2010--India’s economy grew close to 9 per cent in the three months to the end of September, putting pressure on the central bank to continue its aggressive campaign of raising interest rates over the next two months.
The economy’s acceleration by 8.9 per cent in the second quarter, released on Tuesday, considerably surpassed analysts’ expectations that growth would fall short of the 8.8 per cent year-on-year recorded in April to June.
82% of Thai alternative market's rated firms earn 'good' or better in governance
November 30, 2010--Of the 65 firms listed on the Market for Alternative Investment (mai), 49 were rated for their degree of good corporate governance (CG). Forty, or 82% of the
those rated, earned scores evaluations of "good" or better in the Thailand
Institute of Directors (Thai IOD)'s Corporate Governance Report 2010. Lighting & Equipment PCL (L&E) received five logos (stars) and became the first mai-listed company to receive this rating by earning a corporate governance (CG) score of 90% or more.
"This report is supported by The Stock Exchange of Thailand (SET) and Securities and Exchange Commission (SEC). The average score of mai-listed firms gradually improved, from 57 in 2003 to 78 in 2010. L&E also received the Top Corporate Governance Report Award in SET Awards 2010," revealed mai President Mr. Chanitr Charnchainarong.
First Gold ETF in China Approved
November 30, 2010--A company executive of Lion Fund Management Co. reported that the firm plans to raise up to $500 million in China to invest in overseas exchange-traded funds (ETFs) backed by gold bullion, the first in the country that has been approved to do so, according to a Bloomberg report.
Yang Zi, an executive at Lion Fund’s marketing department, stated that “We will be the first fund in China to offer an access to invest in overseas gold-backed ETFs. Given the inflationary environment we are in right now, Chinese investors have great enthusiasm for gold investments.”
She went on to say that Lion Fund Management has received approval from the China Securities Regulatory Commission..
China surges ahead on clean energy investment
November 29, 2010--China has surged ahead of the rest of the world in renewable energy, creating a “new world order” in the low-carbon sector, according to research published today
The rapid growth of Chinese investment has prompted venture capital and private equity companies in Europe to call for more regulation and greater government assistance, warning that without such help, the European economy will fall behind.
DB Global Equity Index & ETF Research: Asia Pacific ETP Market Weekly Review
November 29, 2010--Market Overview
There are 244 equity based ETFs in the Asia Pacific region with 338 listings across 12 countries and 15 exchanges. Japan has the largest market share by AUM accounting for 39.75% of the whole market, whilst China has the largest market share by turnover with 40.23%.
There were two new listings on the last week. Mitsubishi UFJ Asset Mg lunched its fifth equity ETP product, the first tracking MSCI KOKUSAI, MAXIS Global Equity (MSCI Kokusai) ETF, on the Tokyo Stock Exchange. Krung Thai Asset Management listed its first Equity ETP on the Thailand Stock Exchange, tracking the CSI 300 Index. (
Turnover
Monthly average daily turnover declined 3.2% in the last week. Turnover for the previous week was USD 1,567m. The largest ETF by turnover was the iShares Asia Trust - iShares FTSE/Xinhua A50 China Tracker issued by BlackRock with USD 283m accounting for 18.1% of total turnover.
Assets Under Management
AUM declined 1.7% in the previous week. AUM as of Nov 26th was USD 74.3bn. The largest ETF by AUM is the TOPIX ETF managed by Nomura Asset Management with AUM of USD 8.5bn.
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SSE 380 Index Launched Today
November 29, 2010--SSE 380 Index, a brand-new emerging blue-chip index, was officially released today. Featured in great growth potential, emerging industry and blue chips, the index will join with SSE 180 Index and SSE 50 Index in constituting the major blue-chip indices on Shanghai market.
According to an official from the Shanghai Stock Exchange (SSE), twenty years ago, there were only eight companies listed on the SSE. Now, the number has climbed to 890, with a total market capitalization of RMB19 trillion. The past two decades witnessed the formation of a multi-layer capital market made up of blue-chip enterprises in SSE 50 Index and SSE 180 Index and boasting joint growth of small, medium and large sized companies. Take SSE 180 as an example, the number, market capitalization and turnover of SSE 180 Index constituents account for 20%, 73% and 55% of that of all SSE-listed companies, respectively. However, except those in SSE 180 Index, there are over 700 firms listed on Shanghai market, which represent 80% of the total number of SSE-listed companies and 45% of the turnover. Some of them are emerging blue-chip companies with great growth potential, strong profitability and distinct industrial advantage. Thus, the SSE and China Securities Index Co., Ltd. (CSI) decided to release the SSE 380 Index to echo the SSE's development strategy for blue-chip market, better reflect the market structure and its change, and diversify the SSE index system.
Shanghai Stock Exchange to expand ETF trading
November 26, 2010--The Shanghai Stock Exchange (SSE), which marked its 20th anniversary of trading on Friday, is planning to boost the market of Exchange-Traded Funds (ETF), a relatively new breed in China's securities market, to cater for the growing appetite of Chinese investors.
Zhou Qinye, vice-president of the SSE, recently said that the bourse is planning to introduce more cross-market and cross-border ETF products. It recently signed agreements on index authorization with nine international index companies and five exchanges.
Industry players and analysts are positive about the outlook for ETFs in China, saying that their introduction will offer investors more asset allocation products, given the current shortage of investment tools in China.
Japan ruling party works to pass new stimulus plan
November 26, 2010--Japan’s beleaguered ruling party worked on Friday to pass a new $61 billion stimulus package that aims to create jobs and revive the country’s faltering economic recovery.
The new stimulus includes a wide range of measures, including aid for small business and regional economies, but Prime Minister Naoto Kan has repeatedly said the main focus is jobs. “Employment first, employment second, employment third,” became Kan’s rallying cry for the package, which has faced a tough route through a divided parliament.
